In an exclusive interview with London South East, the Avacta Group CEO Alastair Smith outlines his plans for future development, having raised 11.6M in August. Avacta are a UK-based AIM listed pre clinical biotech group. Affimers are Avacta's platform based alternative to current antibody technologies.
Affimers are proprietary to Avacta and are a disruptive technology which can be used to replace antibodies in a range of drug development applications, in diagnostics and in research. Affimers are small, simple and very robust, make an effective alternative to antibodies and are easy to commercialise. Avacta has two business units - one focused on drug development using its novel platform development, and specialising in immunocology/cancer therapy a hot area right now.
This started in 2015, and here it is absolutely critical to build the data packs that will generate licence deals around particular assets or the platform in general. This unit is based in Cambridge. The second unit is generating revenues around the diagnostic and research applications of the Affimer technology. 'On the reagents and diagnostics side we are now generating revenues and getting commercial traction. The technology absolutely works and there are 100's of examples. W
e are now looking to build revenues and make a profitable business unit' said Alastair. This unit is based in Weatherby in Yorkshire. 'We have a lot in the pipeline in terms of big partners evaluating the technology to ultimately take a licence deal to develop products and produce the royalty stream which is what we are after'.